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On Fri, 28 Feb, 8:08 AM UTC
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3D software company Autodesk announces 9% cuts to workforce
Autodesk forecast annual revenue and profit above Wall Street estimates on Thursday, boosted by strong demand for its design and engineering software across industries such as construction and manufacturing. The company also said it would reduce its workforce by about 9%, representing roughly 1,350 employees, and laid out plans to invest more heavily in cloud and artificial intelligence, adding that it would reallocate resources towards those areas. Companies across sectors such as architecture, engineering, construction, and product design are making extensive use of Autodesk's 3D design solutions, with the software maker's artificial intelligence and machine learning capabilities further driving spending on its products. Autodesk saw a 23% jump in total billings to $2.11 billion in the fourth quarter ended January 31.
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Autodesk Forecasts Upbeat Annual Revenue on Steady Design Software Demand
(Reuters) - Autodesk forecast annual revenue and profit above Wall Street estimates on Thursday, boosted by strong demand for its design and engineering software across industries such as construction and manufacturing. The company also said it would reduce its workforce by about 9%, representing roughly 1,350 employees, and laid out plans to invest more heavily in cloud and artificial intelligence, adding that it would reallocate resources towards those areas. Companies across sectors such as architecture, engineering, construction and product design are making extensive use of Autodesk's 3D design solutions, with the software maker's artificial intelligence and machine learning capabilities further driving spending on its products. Autodesk saw a 23% jump in total billings to $2.11 billion in the fourth quarter ended January 31. The company's international operations have particularly shown strength, while analysts have also noted that the company was outpacing peers in the manufacturing sector, driven by the performance of its 'Fusion' design software. Shares of the San Francisco, California-based company were up about 2% in extended trading. Autodesk expects full-year revenue between $6.90 billion and $6.97 billion, largely above analysts' average estimate of $6.90 billion, according to data compiled by LSEG. It projected an adjusted profit between $9.34 and $9.67 per share for its fiscal year 2026, also above the $9.24 per share estimated by analysts. The company reported total revenue of $1.64 billion in the fourth quarter, up 12% from last year and above analysts' average estimate of $1.63 billion. It posted an adjusted profit of $2.29 per share, beating estimates of $2.14 per share. (Reporting by Deborah Sophia in Bengaluru; Editing by Mohammed Safi Shamsi)
[3]
Autodesk announces 1,350 job cuts following strong quarterly earnings - SiliconANGLE
Autodesk announces 1,350 job cuts following strong quarterly earnings Computer-aided software design company Autodesk Inc. announced today that it was cutting 9% of its workforce, or approximately 1,350 people, following its quarterly earnings report, which saw the company beat analyst expectations on all metrics. The staff cuts follow a review of Autodesk's business and a subsequent worldwide restructuring plan that prioritizes the company's efforts in artificial intelligence and cloud services. While Autudesk was cutting staff, it also reported strong quarterly figures, with adjusted earnings per share for the company's fiscal 2025 fourth quarter ending Jan. 31 coming in at $2.29, up from $2.09 in the same quarter of the previous fiscal year, on revenue of $1.64 billion, up 12% year-over-year. Both figures were beats, as analysts had expected adjusted earnings per share of $2.14 on revenue of $1.63 billion. Through Autodesk's veritcals, Design revenue came in at $1.36 billion, up 12% year-over-year, Make revenue was up 28% to $176 million and subscription plan revenue was up 14% to $1.52 billion. Autodesk saw total billings in the quarter of $2.11 billion, up 23% year-over-year and the company's customers were sticking around, with the net revenue retention rate within the range of 100% to 110%. Business highlights in the quarter included Autodesk unveiling an artificial intelligence strategy that focuses on industry-specific foundation models to transform workflows across architecture, engineering, construction, manufacturing and media sectors. The initiative aims to enhance productivity by automating complex tasks and fostering creativity through advanced AI capabilities. During the quarter, Autodesk also introduced Project Bernini, a research effort will develop generative AI models capable of producing precise 3D shapes from various inputs, including 2D images and text descriptions. For its fiscal 2025 full year, Autodesk reported adjusted earnings per share of $5.12, up from $4.19 in the previous fiscal year, on revenue of $6.13 billion, up 12% year-over-year. "Autodesk is focused on the convergence of design and make in the cloud, enabled by platform, industry clouds and AI," said Andrew Anagnost, Autodesk president and chief executive officer, in the company's earnings release. "We are reallocating internal resources toward these critical areas and beginning the optimization of our go-to-market functions to better meet the evolving needs of our customers and channel partners." For its fiscal 2026 first quarter, Autodesk experts adjusted earnings per share of $2.14 to $2.17 on revenue of $1.6 billion to $1.61 billion. Earnings were ahead of the $2.07 per share expected by analysts, while the revenue outlook at the midpoint was slightly ahead of an expected $1.6 billion. For the full year, the company expects adjusted earnings per share of $9.34 to $9.67 on revenue of $7.06 billion to $7.21 billion. Analysts had expected $9.26 per share and revenue of $6.89 billion.
[4]
Autodesk forecasts upbeat annual revenue on steady design software demand
Feb 27 (Reuters) - Autodesk (ADSK.O), opens new tab forecast annual revenue and profit above Wall Street estimates on Thursday, boosted by strong demand for its design and engineering software across industries such as construction and manufacturing. The company also said it would reduce its workforce by about 9%, representing roughly 1,350 employees, and laid out plans to invest more heavily in cloud and artificial intelligence, adding that it would reallocate resources towards those areas. Companies across sectors such as architecture, engineering, construction and product design are making extensive use of Autodesk's 3D design solutions, with the software maker's artificial intelligence and machine learning capabilities further driving spending on its products. Autodesk saw a 23% jump in total billings to $2.11 billion in the fourth quarter ended January 31. The company's international operations have particularly shown strength, while analysts have also noted that the company was outpacing peers in the manufacturing sector, driven by the performance of its 'Fusion' design software. Shares of the San Francisco, California-based company were up about 2% in extended trading. Autodesk expects full-year revenue between $6.90 billion and $6.97 billion, largely above analysts' average estimate of $6.90 billion, according to data compiled by LSEG. It projected an adjusted profit between $9.34 and $9.67 per share for its fiscal year 2026, also above the $9.24 per share estimated by analysts. The company reported total revenue of $1.64 billion in the fourth quarter, up 12% from last year and above analysts' average estimate of $1.63 billion. It posted an adjusted profit of $2.29 per share, beating estimates of $2.14 per share. Reporting by Deborah Sophia in Bengaluru; Editing by Mohammed Safi Shamsi Our Standards: The Thomson Reuters Trust Principles., opens new tab Suggested Topics:Technology
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Autodesk, a leading 3D software company, reports strong quarterly earnings and forecasts upbeat annual revenue. The company also announces a 9% workforce reduction while planning to invest more in cloud and AI technologies.
Autodesk, the renowned 3D software company, has announced impressive financial results for its fourth quarter ended January 31, 2025. The company reported total revenue of $1.64 billion, marking a 12% increase from the previous year and surpassing analysts' expectations of $1.63 billion 12. Adjusted earnings per share stood at $2.29, outperforming the estimated $2.14 3.
The company's performance was particularly strong in billings, with a significant 23% jump to $2.11 billion in the fourth quarter 1234. This growth was driven by robust demand for Autodesk's design and engineering software across various industries, including construction, manufacturing, architecture, and product design.
Despite the positive financial results, Autodesk announced a reduction in its workforce by approximately 9%, affecting around 1,350 employees 1234. This decision comes as part of a worldwide restructuring plan aimed at reallocating resources towards critical areas of focus for the company.
Andrew Anagnost, Autodesk's President and CEO, explained the rationale behind this move:
"Autodesk is focused on the convergence of design and make in the cloud, enabled by platform, industry clouds and AI. We are reallocating internal resources toward these critical areas and beginning the optimization of our go-to-market functions to better meet the evolving needs of our customers and channel partners." 3
As part of its strategic realignment, Autodesk has outlined plans to invest more heavily in cloud technologies and artificial intelligence 1234. This shift reflects the company's commitment to staying at the forefront of technological advancements in the design and engineering software industry.
During the quarter, Autodesk unveiled an AI strategy focusing on industry-specific foundation models to transform workflows across various sectors. The company also introduced Project Bernini, a research initiative aimed at developing generative AI models capable of producing precise 3D shapes from 2D images and text descriptions 3.
Autodesk's performance has been particularly strong in international markets, with analysts noting that the company is outpacing its peers in the manufacturing sector. This success is largely attributed to the performance of its 'Fusion' design software 24.
Looking ahead, Autodesk has provided an optimistic forecast for its fiscal year 2026. The company expects full-year revenue between $6.90 billion and $6.97 billion, surpassing analysts' average estimate of $6.90 billion. Additionally, Autodesk projects an adjusted profit between $9.34 and $9.67 per share, also exceeding analysts' expectations of $9.24 per share 24.
The market has responded positively to these announcements, with Autodesk's shares rising approximately 2% in extended trading 24.
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Autodesk, a leading design software company, has increased its annual revenue and profit forecasts due to robust demand for its design software products. The company's positive outlook reflects the growing importance of digital design tools across various industries.
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Adobe and Autodesk are leveraging AI to enhance their software offerings, driving growth and maintaining competitive edges in their respective markets. Both companies face challenges but show promise in AI-driven innovations.
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Autodesk announces a range of AI-powered features for its design and engineering software, aiming to enhance productivity and creativity across multiple industries.
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Adobe's Q3 earnings report shows strong performance, but a cautious outlook for Q4 leads to a stock drop. The impact of AI on the company's growth remains a key focus for investors and analysts.
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Adobe's stock price drops sharply following a disappointing fourth-quarter forecast. Investors worry about increased competition in AI software and potential delays in realizing gains from AI investments.
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